Self-financing needs effective and transparent management
24/8/2016 12:00 am
Baghdad – Hussein thghb
Self finance Economist said one of the most important hubs to reduce government expenditures with the adoption of many companies and establishments on the federal budget for State coverage requirements, with the possibility to activate a lot of production lines in public corporations to do the import and maintain capital cycle within the country and the economic feasibility of great.
Economic Affairs specialist said loay qais Abdullah in the interview for «morning»: the set of mechanisms that can promote the self-financing companies from losing companies to benefit the country's big winner through employment and supplying quality products to markets and the availability of funds for the development of facilities.
Pointing out that the most important is the highest body mechanisms or High Commission in the premiership to oversee the application of self-financing system and give it power crisis, with real actors and transparent Elara to apply in some institutions.
He noted that the adoption of self-financing requires accounting experience or training capable of applying this system with high accuracy and work sessions and workshops to keep pace with the evolution in this area, as a first stage to be increased incentives to districts that apply this system to motivate employees and increase Profitability.
Abdullah noted the importance of the State to impose a system of self-financing institutions that have good income and can experience success as a first stage, for example (universities and the electricity sector, health) as we have in the form of stages in certain sections of those ministries to see and resolve constraints and strengthening experience.
This also requires a system of borrowing and lending by the Treasury Department to help them overcome the first stage until reaching merely relying on revenue services, or its product.